Hi,
suppose that today I received my first paycheck from my new company, I add this
entries:
First Paycheck
Income:Gross Pay €-1799.50
Expenses:Taxes €300
Liabilities:Rounding €-0.50
Assets:Bank:Checking €1500 ;; net pay
€0.50 is just lent to me, the next month this amount will be charged from my
gross pay along with taxes and if the result is a floating point number it will
be rounded up to the next integer and so on.
Now the questions are:
1) Is the above entry Liabilities:Rounding €-0.50 correct?
2) How do I record the amount that will be charged in the second paycheck?
Second Paycheck
```
Income:Gross Pay €-1799.80
Expenses:Taxes €300
????? {€0.50 to be charged}
Liabilities:Rounding €-0.70
Assets:Bank:Checking €1500 ;;net pay
```
-------- Original Message --------
On Jan 27, 2024, 16:23, Maf. King wrote:
> I don't have this sort of rounding arrangement on my paychecks, but I do have
> similar with one shareholding I have. I suggest you use GC to model reality,
> as far as possible.. Each paycheck gives you pennies of a liability (loan)
> from your employer. So use a liability account in your GC tree for "payroll
> rounding", and transfer into and out of that each cycle. HTH, Maf. On
> Saturday, 27 January 2024 08:17:03 GMT Oleander via gnucash-user wrote: >
> Hello everyone, > > how do you record the rounding of your netpay? > > After
> subtracting taxes from my gross pay, if the result of my net pay is a >
> floating point number, my company rounds this number up to the next integer >
> then credits the amount to my bank account. But the rounding is just a >
> loan, the next month it will be charged from my gross pay along with taxes >
> and if the result of my net pay again is a floating point number, it will >
> be rounded up to the next integer and then credited to my bank account and >
> so on. > > Eg: > > 1st Month > > Gross Pay = €1800.50 > > Taxes = €300 > >
> Netpay = 1500.50 --> 1501€ (amount credited to my bank account) > > 2nd Month
> > > Gross Pay = €1800.30 > > Taxes = €300 > > 1st Month Rounding = €0.50 > >
> Netpay = 1499.80 --> 1500€ (amount credited to my bank account) > > Thank you
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